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tax revenues in order to help the deficit. we'll have a conversation with represent dave camp coming up later in the program. stay with us. m charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5411. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that
the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that federal spending cuts will go into effect march 1st says the government will run a deficit of $845 billion this year compared to last year's $1.1 trillion shortfall. but the cbo's ten-year outlook predicts those improvements will not last. it warns that an aging population will drive up entitlement spending and rising interest rates will put the debt at unsustainable levels. if current laws remain in place, debt by 2023 only ten years from now will equal 77% of gdp. that's roughly double the 39% average seen over the past 40 years. >>> and president obama is asking lawmakers to take quick action as a march 1st deadline approaches that will trigger deep spending cuts. "the new york times" writes this morning that "mr. obama, who missed a deadline this week to submit his annual budget to congress, acknowledged on tuesday that a broader deficit agreement is unlikely to be reached by the march deadline. he provided no details about the t
await final action on deficit reductions. well, the best way to reduce deficits is through economic growth. [ applause ] get ready for a lot more of that new-plane smell. we're building the youngest, most modern fleet among the largest us airlines to ensure that you are more comfortable and connected than ever. we are becoming a new american. barrow island has got rare kangaroos. ♪ chevron has been developing energy here for decades. we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report." in this half hour, mahmoud ahmadinejad says iran is now a nuclear country. does that mean the rogue regime already has nuclear weapons? we'll get an answer later on. on what would have been president reagan's 102nd birthday, we will honor reagan with a look at many of his messages that resonate today. we have more of his best comments for you and we have reagan biographer cr
're brewed by starbucks. coming up next, how can washington solve the deficit and spur growth? "new york times" washington bureau chief david leonhard may have the answers, and he joins us live next. this happy couple used capital one venture miles for their "destination wedding." double miles you can "actually" use. but with those single mile travel cards... [ bridesmaid ] blacked out... but i'm a bridesmaid. oh! "x" marks the spot she'll never sit. but i bought a dress! a toast... ...to the capital one venture card. fly any airline, any flight, anytime. double miles you can actually use. what a coincidence? what's in your wallet? [ all screaming ] watch the elbows ladies. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ if you don't have something important to say? [ female announcer ] some people like to pretend a flood could
is turning to for advice on everything from the deficit to taxes to the broader economy. >>> then, after we talk to them, they're going to paint a picture for us, we're going to turn to two powerful investors for insight into what the conversation in washington means for the broader markets. cowen and company ceo jeff solomon will join us, and the bond king, bill gross. first, steve will bring us up to speed on the morning's top stories. steve? >> thank you, michelle. disney posting better than expected earnings and revenues after the bell. the company says it expects the next few quarters to be better on a stronger lineup of films and growing attendance at its theme parks. ceo bob iegory was on cnbc's "closing bell." >> you had a lot of ins and outs. basically, the trendser good. we had strong results at our domestic parks. the bookings have been pretty solid. advertising was okay. and generally speaking, our business performed well. and our interactive media group was profitable for the quarter. that's the first time the group has been profitable since we've been breaking it out. >> share
deficits, and that austerity was never given a credible grade, for example, by many investors, thinking, of course, it wasn't a great strategy. i concur. here's the problem, though. you know, austerity by definition is, you know, deficit cutting with less benefits and services. now, it is a horrible word. and, of course, many governments and politicians grabbed on to it because they really don't want deficit cutting and they don't want less benefits and services. but it is pretty hard to call it austerity as we go into, what, year six of post credit crisis activity. and global economics don't dictate we're doing a heck of a lot better, even though we had some jumps in growth, which kind of can be predicated on high levels of stimulus, maybe don't call it stimulus, maybe you call it just three to four years of big deficits. now, quid pro quo on the other hand seems to be the relationship that dictates who the big buyers are of very high quality, relatively speaking sovereign debt, whether it is boons, treasuries, guilts or ooth oaths. we need a whole lot less quid and a lot more pro grow
position they'll be in. of course they're being conservative. the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this mess. that's the problem. the president has decided that's the approach he's going to take. the republicans have a different approach. we believe we have to rein in entitlement spending, the budgets up until now. again across the aisle and on the other side, they're unwilling to handle. >> we'll leave it there. thank you. >> let you both get back to work. thanks for joining us. >> thank you. >> appreciate your time. thanks very much. isn't it nice to know in two weeks you haven't missed anything? >> this sounds familiar. >> 40 minutes before the closing bell sounds. dow down 103 points. >>> google getting downgraded after a record high on friday when we
's come back and talk about it. >> if i am confirmed, a trust deficit between the committee and the cia would be wholly unacceptable to me. i like to think that mikan dore and bluntness will reassure you you will get straight answers from me, maybe not always the ones you like, but you will get answers and they will reflect my honest views. >> senator, you've been one of the most high-profile critics of the administration for not giving as much information particularly the legal documentation underpinning the targeting of u.s. citizens. is there a current trust deficit between the senate intelligence committee and the administration, and can someone like john brennan heal it or not? >> he did move in the right direction in a number of areas. i was very pleased when he said that if a mistake was made on a targeted killing matter, he'd make a public acknowledgement, something like that. i think he did take some steps in the right direction and the president did as well when he called on wednesday night and said he would reverse course and make additional materials available with respect t
and deficit. to put a plan in place. it's not just because we want to send a signal to the markets that washington's getting its act together. that's true. and that's a good result. but, it really is to help people. we don't want to see interest rates go up and the need for higher taxes. we don't want to see burden laid on the families, and individuals just coming out of school or seniors. we're trying to put us on a path to a growing economy, where there's more opportunity. >> but eric, you're still in a position of trying to sugarcoat a position of telling people that they are going to be getting less. that you're not going to make the same loans available, that this is a -- this is something that the president campaigned on very successfully. it's that situation. it's the immigration situation. are these different positions or this is just a new way of saying the same thing? >> look. what we're saying is our policies are the best path forward to help people in their lives. and the conservative principles of not spending money you don't have, of making sure that you put in place
. total tax revenues last year were 2.5 trillion. and so if you talk about trillion dollar deficits, it's not terribly difficult to look forward and doing something to really be talking about 2 trillion. >> 2030 or 2025 and it just keepts getting worst. >> it gets worse. there are 10,000 people a day turning 65 for the next 19 years. and this is the baby boom. >> this is what you do, too. as an insurance company it's all about actual aerial assumptions. so you actually know this. i think people will look at you and get glazed that's not for sure that that's going to happen. as an insurance company you need to know and you are sure. >> the demographics are clear between 2000 and 2010, so history, the age group of 55 to 64 grew by 75%. >> wow. >> that's the group that's going to move into the entitlement arena. so i'd like to think about it differently than most. rather than debating it as a taxing problem or spending problem, it's a demographic challenge that we've never faced before. we've never faced what's going to come at us -- >> and it's combined with all the expensive medicine we'
. let's reform the defense budget and look at the largest drivers of our deficit in mandate spending programs those on the left end of the spectrum don't want to cut. >>brian: they took gates cuts and are going try to up them by $500 billion. leon panetta takes over from them. has the same fear. here's what he said yesterday on "meet the press." >> we've got a plan for that possibility because there are so many members saying we're going to let it take place, but i have to tell you it is irresponsible for it to happen. i mean, why -- why in god's name would members of congress elected by the american people take a step that would badly damage our national defense, but more importantly undermine the support for our men and women in uniform? why would you do that? >>brian: that is inaccurate. it is the president who proposed these sequester cuts. this isn't congress doing that. and republican fear about these cuts, would you say that's accurate? >> i would say it's accurate. there is a growing resignation to them on the hill for some reason. i was there two weeks ago. everyone seems re
party cares about, deficit and other things. i don't think he does. i think they give him a pass on this because he is hispanic and he would go along and be in strong shape for 2016. >> the man who wrote the article said marco rubio has been able to walk the line or bridge the gap between traditional republicans or establishment and the tea party and then he's been able to do that because i like the line, he said that he speaks conservative as a first language. >> that's absolutely true. i do slightly disagree with what bob said, that's the reason why they're going to give him a pass is because he's hispanic. i don't think so. i think to your point, it's because he's incredibly persuasive and able to finally bring people together. if you listen to him go around and do those talk radio interviews with some of his most ardent critics last week, i mean, not just talk radio, but people on the very far right, they have come his way. he's very persuasive. i thing i love is he's not persuasive about the dumb stuff. he doesn't comment on dumb stuff. these hearings have elevated him. you
of that cycle? with some of the problems that we're facing right now with the deficit issues, with the entitlement issues that are coming up, how do we get politicians to start talking about some of those tough realities? >> i don't know. the ones that do get slaughtered. i don't know how we do it. i wish i were that smart. >> do you think it's holding back business at this point? or does business operate kind of outside the sphere of what's happening in washington. >> oh, you can't operate outside the sphere. the last few years, where anybody in a corporation was considered evil, and i really felt that way. i know my colleagues felt that way, you have to operate in spite of washington. and because, first of all, you have a responsibility, shareholders employees customers, whatever, but you're a business. and you're there to run a business, and to make good products and get profit, and la, la, la, everybody's happy. so you have to do it even with the weight of washington strapped to your back every day. >> you said that you felt the last two years that businesses and your col
's going to seek to get new revenue to help bring down the deficit and specifically, he's now calling out carried interest tax breaks again. we'll see where that goes. plus, the story that everyone is talking about this morning, the ravens holding on to beat the 49ers in the super bowl after the lights went out for 45 minutes at the superdome. we're going to try to keep the lights on. "squawk box" begins right now. ♪ if you like it then you should have put a ring on it ♪ ♪ if you like it then you should have put a ring on it ♪ >> good morning, everybody. i'm becky quick along with andrew ross sorkin. joe kernen is on vacation today so we're joined by steve liesman. we're happy to have him here. our top story this morning, the market. we have assembled a trio of wall street's most respected voices to join us for the next hour. we have a lot to talk about this morning. plus, there is that issue of the lights going out at the super dole last night. officials say an abnormality in the power system triggered an automatic shutdown forcing backup systems to kick in. but they weren't sure
had the south african mine strikes which really put deficits there relative to the demand that's there. that put platinum and both palladium as well. >> sean, thanks. carl, thank you, as well. >> okay. coming up, folks. details on some looming job cuts on wall street. and we're also building up to the newsmakers of the morning. former treasury secretary robert rubin, in studio. that's a cnbc exclusive, folks, at 8:00 eastern. plus, chicago fed president charlie evans talking about the central bank's next move. do stay tuned. >>> tomorrow, a special edition of "squawk box." live from pebble beach. former yahoo! ceo carol bartz will be our guest host. we'll talk to at&t chairman and ceo randall stevenson. plus, the legendary clint eastwood. >> people have to get creative when the pressure is on. >> it all starts tomorrow at 6:00 a.m. eastern. >>> welcome back to "squawk." barclays capital saying it plans to lay off 275 employees at three offices in new york. it's blaming economic factors for the layoffs. the layoffs are going to take place during a 14-day period beginning may 5th. how do
you. >>> when thele toings who are responsible for solving our debt deficit issues are the same ones against cost-cutting at the post office, it means we're in pretty deep trouble. we'll talk about it next. stay with us. ak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. riding the dog like it's a small horse is frowned upon in this establishment! luckily though, ya know, i conceal this bad boy underneath my blanket just so i can get on e-trade. check my investment portfolio, research stocks... wait, why are you taking... oh, i see...solitary. just a man and his thoughts. and a smartphone... with an e-trade app. ♪ nobody knows... [ male announcer ] e-trade. investing unleashed. >>> a
for a bigger deal to address the debt and the deficit. >> a lot to talk about with our next guest. reaction from capitol hill from kentucky republican senator rand paul. we welcome you, snofrenator. do you think we'll get a deal on the sequestration issue before march 1st? >> you know, all these people carping about sequestration being harmful to the economy. that would presume that the government creates wealth by spending money. i think that's a ridiculous keynesian notion that's been disproved for the last 40 years. so i think cutting spending is precisely what you should do to spur the economy. when money comes to washington and it's spent, that's how it's disruptive and spent inefficiently. let's leave that money in the marketplace. >> are you saying you want to see the sequester happen? >> the sequester barely cuts any icing off the top of the cake. spending is going to rise $9 trillion over the next ten years. the sequester takes 1 trillion off of that. spending still goes up $8 trillion over the next ten years. that's why bowles/simpson said we need 4 trillion and why people like me
building. he sold them a bill of goods, and what they got back was medicare part d, a ballooning deficit, and a financial crisis that devastated the country, a failed war -- a war in iraq that was ill-advised to put it mildly, and now the cuckoo's nest who he cultivated as the ground troops, they think they're in charge and they're not going to listen to him saying they're not. >> what was the big thing with karl rove? did he start a war to celebrate the tax cut or have a tax cut to celebrate the war. i mean, he put it all together. i forgot to mention the prescription drug thing thrown in without financing it. >> right, right, right. and, you know, he did do a great job, you know, mobilizing and energizing the right wing base to get behind george w. bush, and then he and others did a great job in the last few years under barack obama of energizing them by demonizing barack obama and pushing them to the fringe. and now he comes along and says, wait a second, you've gone too far. this monster that i have helped to create has gone too far, and i'm picking up the pitchfork and i got my fire
. trade and balance was better than expected. we have been running a deficit for years, as you know, sue. but this time it is narrower than anticipated. remember it was negative. 0.1. a positive print on gdp likely when the revision comes in. you see the big pop there this morning? that's because of the trade numbers overall. so good numbers, good day overall. don't worry about volume and we are staying until the bitter end, sue? >> indeed you are, bob. appreciate it. meanwhile, big snowstorm is bearing down on the northeast nap is sending fuel prices to new highs for 2013. sharon epperson tracks the action for us at the nyse pits. hi, sharon. >> hi. already paying the highest gasoline prices for this time of year, now many in the northeast who heat homes with heating oil will be hit with record high home heating bills as well. we are looking at prices just this week alone for heating oil few furs surge 3% leading energy markets higher here and we are continuing to watch what is happening in terms of the percentage of homes in the northeast that use heating oil. of course it is only 6% o
know, we've heard from republicans, we want to shrink the government, we want to shrink the deficit but not the why. >> i definitely think we are about solving the big problems, macro fiscal problems. the president hasn't joined us. but the reason we're doing that is we want to help people. we don't want to see interest rates skyrocket. what's that going to do to people who are already struggling to pay their mortgage? we don't want to see taxes go up anymore. what's that going to do to somebody who already has now just experienced a tax hike. we want to make life work again, and the path to do that does include trying to get a handle on the fiscal situation here in washington, but it also means putting in place policies that help people with their health care costs, their education needs, college tuition and the rest. >> you want to make people's lives better. some might ask how you can do that and still slash the federal budget the way you want to slash in order to meet your other goal, which is to reduce the deficit. >> well, again, these are, you know, things that we're trying t
has been the weakest recovery in 75 years and trillion-dollar annual deficits. the sequester will help the economy by leaving more capital for private investment. the sequester will surely require worker furloughs and cutbacks in certain nonpriority services. but most of those layoffs will happen in the washington, d.c., area. the recession-free region that has boomed during the obama era. >> wow. not a lot of republicans would agree with that because the sequester would hurt the pentagon. that's why they're talking about the d.c. area. >> can you raise my hand and say i'm one republican that would agree with that? we've got to cut defense spending. >> we have to. >> we've got to, and we've got to cut spending. >> willy-nilly, though. so the sequester is willy-nilly, isn't it? you wouldn't want to cut having the sequester do it? >> didn't congress make the sequester? >> that was a carrot and stick situation. the sequester is the stick. >> the problem is you can't get the president of the united states to put alternative cuts on the board. he'll talk in generalities. and the republicans
$745 million in budget deficits over the next decade because of a widening gap between how much they're actually making and spending. good luck, ravens. gretch? >> gretchen: thank you, brian. "fox & friends" has gone to the dogs. champion dog, that is. the westminster kennel club dog show, america's second longest continuously held sporting event. today we're honored to have some of the pups competing. joining me live, the voice of the westminster kennel club, david frye. hard to believe it's been another year. >> it goes by fast. >> gretchen: so what's this beautiful creature? >> this is a tibetan mastiff. it's again, we talk about new breeds, it just means they're newly recognized because they've been around for thousands of years. we finally got them out of tibet and over here to this country. you can see what a wonderful regal dog it is nonresponsive this is in the working class. >> yes. kondra. >> gretchen: let's have her go off with her owner. how much does she weigh? >> probably 140 or 50 pounds. >> gretchen: then the little guy. i used to have a jack russell terrier. that's w
and that means getting the deficit down and creating some certainty for business so that they feel comfortable hiring and investing again and really getting the economy moving. >> brian: i'll give you an example. i was shocked to see so many people feel he's killing al-awlaki with drones in yemen. what if the president of the united states gives the green light to take out a pick pocket or someone of his political enemies. that's some of the buzz that goes on. how do you get rid of that? >> there have always been conspiracy theories. going back to the founding of the republic, but i think the main thing is, brian, to focus on those things that resonate with people in their daily lives. as i mentioned, job security and growing the economy, getting the deficit down. the country is still heading to an unsustainable debt situation. the cost of college, the cost of health care. those basic bread and butter issues that the government starts tackling those, i think these conspiracy theories will have a lot less traction. >> brian: you believe the middle is the place to get the country back, don't you
diagnosed with cognitive deficits. >>> take a look at these amazing shots. canadian astronaut chris hatfield snapped these breath taking pictures of earth from the international space station. that is 250 miles above the planet's surface. since he had no direct internet connection, he's been sending the images through nasa to his son and evan then posts themselves online for his dad's twitter followers and space fans. >> you just don't get enough bars on the space station for the internet. >> i love the collaboration with his son. very cool. thank you. >>> 18 after the hour. we're getting an early read on your local news making national headlines and we'll start with this from colorado's reporter herald. 7-year-old alex says he can't believe he was dispended. his mother says he was actually suspended for trying to save the world from evil. the principal told her that alex threw a fake grenade during recess. she says he didn't have anything in his hands. he made no threats. he was simply using his imagination. the school says it violates a rule that says no fighting or weapons real or imagina
't finish the job of deficit reduction through spending cuts alone. we can't. >> yes, we can. yes, we can. >> god bless you and god bless the united states of america. >> that's what i'm talking about right there. >> a little something light hearted for you this morning. "early start" continues right now. >>> new developments in the all-out man hunt for a suspected cop killer right now. police blanketing a ski resort. >>> monster blizzard. boston and new york right in the path of this thing. thousands of flights already canceled. good morning. it is friday. welcome to "early start." so much going on. >> i love all your energy. great to have you. >> it's going to be a big weekend. shoveling snow. that's what berman is probably doing. >> boston is really getting hit hard. i'm zoraida sambolin. friday, february 8th. up first, we are bracing for that big one. right now millions of people from maine to new jersey are waiting for a blizzard that could actually rewrite the history books, folks. take a look at the radar of this storm right now. forecasters are using words like epic, historic, to
Search Results 0 to 38 of about 39 (some duplicates have been removed)